Demand for Collector Cars Drive Sales to $35 Million at 4th Annual Barrett-Jackson Auction in Palm Beach
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Record Sales, Attendance and Spectacular Vehicles Attract World to Lifestyle Event
PALM BEACH, FL - April 2, 2006: Continued strong demand pushed sales to over US$35,000,000, during the fourth annual Barrett-Jackson Palm Beach Collector Car Event at the South Florida Expo Center in West Palm Beach, Fla.
From Thursday, March 30 through Saturday, April 1, 2006, the finest post-war classics, muscle cars, modern supercars and celebrity vehicles sold at No Reserve.
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The Barrett-Jackson Auction Company reaffirmed the intensifying interest in collector cars with another record-setting year in Florida, which garnered an estimated $35 million in sales compared to the $22 million record set at the 2005 auction. A total of 583 cars crossed the auction block during the three-day event; all were sold at No Reserve. The 1,230 bidders representing all 50 states and 14 countries registered for an opportunity to buy a vehicle. These bidders had a combined purchasing limit in access of over $250 million.
"The Barrett-Jackson Palm Beach Collector Car Event is the East Coast's premier automotive lifestyle event where anyone can be a player instead of a side line spectator," said Craig Jackson, president of the Barrett-Jackson Collector Car Auction. "Sales rose this year by approximately the same amount as our total sales just two years ago. We once again demonstrated the strength of the car collecting hobby."
The 1947 Franay Bentley Mark VI, considered by many to be one of the most famous post-war Bentleys ever built, became the highest priced vehicle ever sold at the Barrett-Jackson Palm Beach event when it hammered at $1.728 million including bidders fee. The #003 Ford GT struck a special chord with the bidders, as the proceeds from the $530,000 sale benefited the Carroll Shelby Children's Foundation. In addition, an unrivaled selection of Corvettes, Street Rods, Muscle Cars, Classic and European Sports Cars were sold on the auction block as celebrities such as Carroll Shelby, Mark Fields of Ford Motor Company, Jim Taylor of Cadillac and renowned designer Chip Foose watched.
The Barrett-Jackson Palm Beach event featured vendors showcasing everything from automotive art and sculpture to automobilia, motor homes, real estate, car care products and general merchandise including jewelry, collectibles, electronics and apparel. A Gala was held during the week for bidders and VIPs that benefited the National Center for Missing and Exploited Children and the Darrell Gywnn Foundation, the auction's charitable beneficiaries. Early estimates indicate that approximately half a million dollars was raised for charity.
"We brought an amazing group of top vehicles to Palm Beach, and they fetched top prices in nearly all categories," noted Jackson. "For instance, the 1947 Franay Bentley topped this event's sales and was the highest price ever paid at the Palm Beach event, but there were many surprises along the way. From Corvettes to Austin Healeys, the new world records reflect the true value of these special pieces of history."
Barrett-Jackson continues to set the standard for the collector car market by elevating consignment standards, breaking records and serving as the barometer for market trends. This year's event included nearly 600 quality collector cars all selling at No Reserve.